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TAX ALERT: PACMATE Annex 3.B, item 57. |
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A member is entitled to be reimbursed for insurance costs, when items are removed overseas at Commonwealth cost. The member is reimbursed the lesser of these two amounts. |
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a. |
The cost of world-wide multiple risks insurance to cover the value of the items up to AUD 53,000. This is for a period which: |
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i. |
begins on the day the items are removed from the
member’s residence in |
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ii. |
ends on the day the items
are returned to the member’s residence in |
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b. |
The cost of the insurance worked out at the rate of AUD 2 per AUD 100 insured. |
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